Sony in “advanced board level discussions” to buyout Rockstar parent company Take-Two – rumor

Multiplatform 1 week ago VG247 47

Shares in Take-Two today have climbed due to a Sony buyout rumor.

Rumors of a possible Take-Two take over by Sony have caused shares in the company to jump 5.4%.

According to a MarketWatch report (via Daniel Ahmad), Sony is currently in “advanced board level discussions” regarding the acquisition of Take-Two Interactive.  It’s said to be looking at a “cash deal,”  value the company at $130 share, per Joel Kulina of Wedbush Securities.

Going by the numbers, it would be a bit difficult for Sony to afford the buyout, unless it has found a buyer for its Sony Pictures division. We’re not privy to its finances, but it would be a very expensive deal even if it sells its film studio as rumors state.

This isn’t the first time news of a Take-Two acquisition has popped up over the years. The most famous of the lot, or infamous if you will, was when EA made a bid to take over the company in 2008.

The company CEO at the time, John Riccitiello, doggedly pushed for a buyout with a cash bid of $26 per share, or around $2 billion. The offer was rejected by Take-Two boss Strauss Zelnick.

 

 

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